Daily analysis of Gold for January 23, 2016 888011000 110888 Overview Gold price reveals some bearish predisposition after evaluating the recently tape-recorded top at 1,218.55, while the rate is still caught inside the bullish channel that appears on the chart. Please keep in mind that the EMA50 safeguards trading inside this channel to keep the bullish pattern circumstance active for today. The discussed level is anticipated to be broken, that opens the way to head for 1,249.94. Holding above 1202.00 and 1197.10 levels represents the key condition to continue the anticipated increase for today. Breaking the last level represents a negative element that will push the cost to start bearish correction that its primary targets begin at 1,183.83 before the next destination on the short-term basis. The expected trading variety for today is in between 1,202.00 support and 1,235.00 resistance. The product has been offered by InstaForex Company-www.instaforex.com

By | January 23, 2017

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Overview

Gold price shows some bearish bias after testing the recently recorded top at 1,218.55, while the price is still trapped inside the bullish channel that appears on the chart. Please note that the EMA50 protects trading inside this channel to keep the bullish trend scenario active for today. The mentioned level is expected to be broken, that opens the way to head for 1,249.94. Holding above 1202.00 and 1197.10 levels represents the key condition to continue the expected rise for today. Breaking the last level represents a negative factor that will push the price to start bearish correction that its main targets begin at 1,183.83 before the next destination on the short-term basis. The expected trading range for today is between 1,202.00 support and 1,235.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Daily analysis of Silver for January 23, 2017 888011000 110888 Summary Silver cost managed to breach the correctional bearish channel’s resistance and settled above it. This supports the continuation of our bullish pattern circumstance in the short term. The way is open to visit 17.43 level that represents the first main target. For that reason, we are waiting on a more apparent bullish bias on the intraday and short-term basis, keeping in mind that the EMA50 provides persistent positive assistance. It reinforces the possibilities of breaching those level followed by breaking the ice to head for 18.30 as the next primary target. Please bear in mind that holding above 16.56 represents the key condition to attain the suggested targets. The expected trading variety for today is between 17.00 assistance and 17.43 resistance. The material has been supplied by InstaForex Business-www.instaforex.com

By | January 23, 2017

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Overview

Silver price managed to breach the correctional bearish channel’s resistance and settled above it. This supports the continuation of our bullish trend scenario in the short term. The way is open to visit 17.43 level that represents the first main target. Therefore, we are waiting for a more obvious bullish bias on the intraday and short-term basis, noting that the EMA50 provides persistent positive support. It reinforces the chances of breaching the above-mentioned level followed by opening the way to head for 18.30 as the next main target. Please bear in mind that holding above 16.56 represents the key condition to achieve the suggested targets. The expected trading range for today is between 17.00 support and 17.43 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Loonie Mixed Following Canada Wholesale Sales

By | January 23, 2017

Following the release of Canada wholesale sales for November at 8:30 am ET Monday, the loonie traded blended against the other major currencies. While the loonie declined versus the aussie, it altered little versus the rest of major equivalents.

The loonie was trading at 1.3309 against the greenback, 1.4287 versus the euro, 85.15 versus the yen and 1.0088 versus the aussie around 8:33 am ET.

The product has actually been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of USD/CHF for January 23, 2017 888011000 110888 USD/CHF is under pressure. The set tape-recorded a succession of lower tops and lower bottoms given that Jan 20 and is heading downwards. The disadvantage momentum is additional enhanced by its declining 20-period and 50-period moving averages, which play resistance roles and keep the drawback predisposition. The relative strength index is bearish and has broken below its 30 %level. Furthermore, 1.0015 is playing a crucial resistance role, which ought to restrict the upside capacity. The United States dollar fell as Trump’s inauguration speech still could not offer investors with clarity on his tax reform and fiscal budget. Trump’s speech likewise repeated protectionism which financiers believed would hurt the dollar As long as this essential level hangs on the advantage,look for an additional drop toward 0.9960 as well as 0.9935 in extension. Resistance levels: 1.0030, 1.0050, 1.0070 Assistance levels: 0.9950, 0.9935, 0.9900 The material has been offered by InstaForex Business-www.instaforex.com

By | January 23, 2017

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USD/CHF is under pressure. The pair recorded a succession of lower tops and lower bottoms since Jan 20 and is heading downwards. The downside momentum is further reinforced by its declining 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias. The relative strength index is bearish and has broken below its 30% level. Additionally, 1.0015 is playing a key resistance role, which should limit the upside potential.

The U.S. dollar fell as Trump’s inauguration speech still could not provide investors with clarity on his tax reform and fiscal spending plans. Trump’s speech also reiterated protectionism which investors thought would hurt the dollar

As long as this key level holds on the upside, look for a further drop toward 0.9960 and even 0.9935 in extension.

Resistance levels: 1.0030, 1.0050, 1.0070

Support levels: 0.9950, 0.9935, 0.9900

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Analysis of EUR/NZD for January 23, 2017 888011000 110888 Recently, EUR/NZD has been upwards. As I expected, the rate checked the level of 1.4947. Using the Ichimoku, I found possible upward continuation in EUR/NZD on the 15M time frame. The rate is trading above Kijun and Tenkan sen, which is a sign that there is strength at the moment. I have actually positioned Fibonacci expansion to find potential upward targets.I found Fibonacci expansion 61.8%at the rate of 1.4985 and Fibonacci growth 100%at the price of 1.5050. Watch for purchasing opportunities.Fibonacci Pivot Points: Resistance levels R1: 1.4940 R2: 1.4980 R3: 1.5045 Support levels: S1: 1.4815 S2: 1.4775 S3: 1.4710 Trading recommendations for today: watch for possible buying opportunities.The product has been offered by InstaForex Company-www.instaforex.com

By | January 23, 2017

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Recently, EUR/NZD has been upwards. As I expected, the price tested the level of 1.4947. Using the Ichimoku, I found potential upward continuation in EUR/NZD on the 15M time frame. The price is trading above Kijun and Tenkan sen, which is a sign that there is strength at the moment. I have placed Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.4985 and Fibonacci expansion 100% at the price of 1.5050. Watch for buying opportunities.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4940

R2: 1.4980

R3: 1.5045

Support levels:

S1: 1.4815

S2: 1.4775

S3: 1.4710

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

International macro summary for 23/01/2017

By | January 23, 2017

Global macro summary for 23/01/2017: During the weekend, the OPEC’s tracking committee fulfilled to supervise and update the current oil cut deal. Saudi Energy Minister

Khalid al-Falih who spoke to the media following the conference, said the execution of the agreed cuts had actually been” wonderful”and he wishes for 100%compliance in February. Russian Energy Minister Alexander Novak also sounded positive keeping in mind that the outcomes were above expectations. The new body of control had been made to keep track of the application, which is called the Technical Joint Committee(JTC). It will work together with the OPEC Secretariat in compiling production information. This data is because of be presented to the ministerial Monitoring Committee by the 17th of each month and the next JTC meeting will remain in March in Kuwait.Let’s now take a look at Petroleum technical photo on the 4H timespan. The bulls attempted 3 times to break above 53.50 and failed. The cost reversed back to the trading variety in between the levels of 53.50 and 50.90.

The 2 current greater lows at the levels of 50.68 and 50.90 might recommend the bulls did not say latest thing. Any break listed below this zone will result in an instant drop to the key techncial assistance at the level of 49.57. The product has been offered by InstaForex Company-www.instaforex.com

Jonathon Alexander

Technical analysis of USD/CAD for January 23, 2017 888011000 110888 General introduction for 23/01/2017:2 possible counts are still valid as the wave development advances this market. The top for the wave 1/a had been developed at the level of 1.3386, simply above the 61% Fibo at the level of 1.3377. Currently, the marketplace is unfolding an internal corrective cycle and it looks like the wave a of this correction had been made already. The market may be in development of head and shoulders pattern, but the ideal arm of this pattern hasn’t been completed. Any break out above the level of 1.3386 once again will revoke the pattern, revoke the primary count and make the alternative count the proper one to follow.Support/ Resistance:1.3018 – Technical Support1.3137 – WS11.3189 – Technical Support1.3252 – Intraday Assistance1.3261 – Weekly Pivot1.3386 – Intraday Resistance1.3507 – WR1Trading recommendations:Day traders should think about opening sell orders just due to possible head and shoulders pattern unfolding. The SL for all open orders must be placed above the level of 1.3386 and TP should be put at the level of 1.3189. The material has been providedby InstaForex Business -www.instaforex.com

By | January 23, 2017

General overview for 23/01/2017:

Two possible counts are still valid as the wave progression continues on this market. The top for the wave 1/a had been established at the level of 1.3386, just above the 61% Fibo at the level of 1.3377. Currently, the market is unfolding an internal corrective cycle and it looks like the wave a of this correction had been made already. Moreover, the market might be in progress of head and shoulders pattern, but the right arm of this pattern hasn’t been completed yet. Any break out above the level of 1.3386 again will invalidate the pattern, invalidate the main count and make the alternative count the correct one to follow.

Support/Resistance:

1.3018 – Technical Support

1.3137 – WS1

1.3189 – Technical Support

1.3252 – Intraday Support

1.3261 – Weekly Pivot

1.3386 – Intraday Resistance

1.3507 – WR1

Trading recommendations:

Day traders should consider opening sell orders only due to possible head and shoulders pattern unfolding. The SL for all open orders should be placed above the level of 1.3386 and TP should be placed at the level of 1.3189.

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The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Video Technical Analysis on EUR/USD for 23rd January 2017 888011000 110888 We take a thorough look on EUR/USD to see if there are any trading chances available for us to generate earnings in this market. We discuss plainly how we utilize a range of analytical techniques from Fibonacci retracements to Fibonacci extensions, price action and oscillators to identify such trading opportunities.If you have any questions on other currency sets or techniques of technical analysis, do not hesitate to leave a remark and I’ll return to you.Join us and learn how to take excellent trading chances through technical analysis!The product has been supplied by InstaForex Company-www.instaforex.com

By | January 23, 2017

We take an in-depth look on EUR/USD to see if there are any trading opportunities available for us to generate profits in this market. We explain clearly how we utilize a range of analytical approaches from Fibonacci retracements to Fibonacci extensions, price action and oscillators to determine such trading opportunities.

If you have any questions on other currency pairs or methods of technical analysis, feel free to leave a comment and I’ll get back to you.

Join us and learn how to seize good trading opportunities through technical analysis!

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of EUR/JPY for January 23, 2017 888011000 110888 General overview for 23/01/2017:The top for the wave 1/a (green) has actually been established at the level of 122.94 and the marketplace is not unfolding in an internal corrective cycle. The invalidation level for this cycle is the bottom of the wave (4) (blue) at the level of 120.53. The sharp decrease to the old weekend gap (marked on a chart as a gray rectangular shape) has actually been labeled as wave 2/b. Presently, the marketplace is trading below the weekly pivot at the level of 122.14 and only a spontaneous v-shape reversal from present levels above the wave 1/a top would show the corrective cycle is over and wave 3 (green) is in progress.Support/ Resistance:123.74 – WR1122.94 – Intraday Resistance122.14 – Weekly Pivot121.65 – Intraday Assistance121.34 – WS1120.53 – Invalidation LevelTrading recommendations:Day traders ought to think about opening buy orders just due to uncompleted wave development to the benefit. The SL for all open orders should be placed below the level of 120.53 and TP ought to be exposed for now. The product has been suppliedby InstaForex Business- www.instaforex.com

By | January 23, 2017

General overview for 23/01/2017:

The top for the wave 1/a (green) has been established at the level of 122.94 and the market is not unfolding in an internal corrective cycle. The invalidation level for this cycle is the bottom of the wave (4) (blue) at the level of 120.53. The sharp decline towards the old weekend gap (marked on a chart as a gray rectangle) has been labeled as wave 2/b. Currently, the market is trading below the weekly pivot at the level of 122.14 and only an impulsive v-shape reversal from current levels above the wave 1/a top would indicate the corrective cycle is over and wave 3 (green) is in progress.

Support/Resistance:

123.74 – WR1

122.94 – Intraday Resistance

122.14 – Weekly Pivot

121.65 – Intraday Support

121.34 – WS1

120.53 – Invalidation Level

Trading recommendations:

Day traders should consider opening buy orders only due to uncompleted wave progression to the upside. The SL for all open orders should be placed below the level of 120.53 and TP should be left open for now.

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The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander